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nearly three decades. all, of course, in an effort to slow slowing inflation. in hours, the fed expected to announce raising rates by 0.75. that will make it more expensive to pay for things like a mortgage. the biden administration under growing pressure to do more to avoid a recession. retail sales fell last month. consumers feeling the squeeze from the record high gas prices, inflation and already rising interest rates. let's begin our coverage with cnn's matt egan live in washington taking a closer look at the fed's big move expected today, matt. >> reporter: erica, this is shapi...

at least 25 states. and now, the water outages just as this heat moves in. will carr near yellowstone tonight. ginger zee timing this all out. also tonight, on the eve of a major meeting of the federal reserve, the fed considering the biggest interest rate hike in nearly 30 years. what this could mean for american families. the effort to cool down inflation. can it be done, though, without sending the country into recession? and tonight, families across this country, the father with a decent-paying job, in line at a food bank because the bills are rising so quickly. the retired tea...

inspiring america. >> announcer: this is "nbc nightly news" with lester holt good evening, everyone forecasters are using terms like "heat dome" and "atmospheric rivers" to describe what is driving extreme weather conditions across the country tonight, from dangerous rain and flooding to crippling heat many will see triple-digit highs in fact over the course of the next seven days, over 250 million americans can expect temperatures 90 or hotter. and while drought-stricken parts of the west can't seem to buy a drop of rain, too much of it has fallen in montana and wyoming. it's been...

with a survivor as leaders meet. >> it started with sleepovers. >> o'donnell: american innovation: the georgia college with a 99% employment rate for recent grads. so what's their secret? the consumer warning over a popular fisher-price rocker for babies and toddlers. what parents need to know. a big announcement from serena williams: after a year on the sidelines, what's next for the tennis superstar? and the u.s. army celebrate its 247th birthday. a look at the branch's past and future. ♪ ♪ ♪ this is the "cbs evening news" with norah o'donnell, reporting from the nation's cap...

side. and, the january 6th hearing that was set for this morning aimed at trump's influence on the department of justice has been postponed. we'll tell you what's next for the investigation into the insurrection. ♪♪ good morning. welcome to "way too early" on this wednesday, june 15th. i'm jonathan lemire. we're learning new details about the next january 6th committee hearing which will now take place tomorrow afternoon. a hearing originally scheduled for today has been postponed. congress woman zoe lofgren said it was stemming from an overwhelming demand on staff to produce...